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SHIB spikes

SHIB spikes 8% confirming the crypto market recovery

What's in this article

SHIB spikes 8 percent which confirms the crypto market recovery. SHIB has made an intraday high of $0.00004763. One million worth of SHIB tokens has been liquidated in an hour which was holding the short position, according to data from the Coinglass.

SHIB spikes 8%:

The crypto market is looking bearish because the flagship currency, BTC, price is down by 16.67%. Ethereum is also down 13.91% from its respective peak of this month. This bearish market has affected a lot of traders. In this time of Chaos, there is only one coin is pointing towards the start of recovery mood. SHIB spikes 8% to confirm that the bearish mood is going to end and we are entering into the recovery mood.

SHIB spikes
The price chart of SHIB by tradingview

The data from the Coinglass has some interesting facts to reveal, Short positions worth $1 million have been liquidated in less than an hour. SHIB is down -44.96% from its Oct. 28 all-time high at press time. On Nov. 18, it came close to slipping below the $0.00004 level, hitting its lowest level since Oct. 26. The recent spike by the token is a guaranteed signal that the market is going to enter into a recovery mood.

The rival token of SHIB is also down by 68.29% from its Musk-driven price. The listing of the meme currency on the new exchanges will be very helpful in its way to the moon. For more content please click here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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